TOO MANY RETIREES IGNORE GENERIC Rx SAVINGS, STUDY FINDS

Millions of retired Americans are leaving money on the
table by failing to talk with their doctors about the possibility
of switching to cheaper generic medicines,
researchers at Medco said.

In a new study raising concerns that many retirees neglected
to consider the cost of prescription drugs and
other types of health care when planning their retirement,
the researchers said these expenses have come as
a shock to many seniors.

Among middle-income retirees, for example, the cost of
prescription drugs alone consumes an average of 10% of
each retiree's monthly income, they found.

But even when feeling the pinch, the study suggests
that too many seniors fail to take action to stretch their
prescription drug budgets.

"Nearly half of retirees stated they infrequently or
never discuss with their doctors ways to save money on
their medications," even though "research has shown
that doctors are likely to prescribe generic drugs when
asked by patients," the researchers said.